Brad Garlinghouse said he believes the market is headed toward a $5 trillion valuation and that the advent of XRP, SOL, and other crypto ETFs is a matter of time.
Monthly archives: May 2024
Bybit restructures executive team following $26M airdrop fiasco
Bybit confirmed internal role changes for several executives following a botched airdrop that affected 320,000 users and led to a $26 million compensation payout.
30,000,000 Customers’ Data Allegedly Exposed and on Sale After Trillion-Dollar Bank Suffers Massive Data Breach: Report
An infamous hacker group says it’s behind a breach at one of the world’s largest banks. The notorious group ShinyHunters says it’s responsible for a new data breach at Santander, claiming personal information from 30 million customers is now for sale. The group says the data will be sold one time to one bidder, for …
Crypto Sector Losses to Hacks and Fraud Are Down 20% Year-on-Year, According to Bug Bounty Platform Immunefi
A new report from bug bounty platform Immunefi shows that crypto losses due to hacks and fraud plummeted over the past year. According to Immunefi, the crypto sector saw 108 specific incidents of hacks and rug pulls in 2024 year-to-date. The financial losses amounted to $473,229,944, or 20% less than the $595,438,324 lost during the …
Bitcoin Indicator That’s Historically Predicted Price Rallies Flashing Bullish Signal, According to Santiment
New data from market intelligence platform Santiment reveals that one Bitcoin (BTC) indicator that has historically predicted price rallies is flashing a bullish signal. In a new post on the social media platform X, Santiment says that when crypto wallets holding at least 10 BTC are accumulating, the price of BTC tends to go up. …
Disgraced Terra Founder Do Kwon Reaches Preliminary Settlement With the SEC After Being Found Liable for Fraud
Do Kwon appears to have reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC). In April, a jury found Kwon and Terraform Labs liable for defrauding investors regarding the stability of the algorithmic stablecoin Terra USD, which de-pegged and collapsed in 2022, causing crypto prices to plummet across the board. The case’s …
Crypto Biz: Solana’s rise, BlackRock’s growing BTC exposure, and more
This week’s Crypto Biz explores Solana’s comeback, BlackRock funds’ growing exposure to Bitcoin, Riot Platforms’ bid for Bitfarms, Semler Scientific using BTC as a treasury reserve, and more.
Senator Lummis sends letter to Biden urging no veto for SAB 121 repeal
The Senator pointed to the troubling manner in which the Securities and Exchange Commission issued its controversial staff accounting bulletin.
Elon Musk Denies Bloomberg Report Stating He’d Counseled Donald Trump on Crypto
Elon Musk is refuting claims that he was in talks with former US president Donald Trump about crypto. Citing a source who purportedly knows about the meetings, Bloomberg recently reported that the two billionaires are discussing cryptocurrency policy. However, in a post on social media platform X, Musk says the report is unfounded. “Pretty sure …
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Japanese DMM exchange suspends withdrawals after $305 million Bitcoin theft
Japan-based crypto exchange DMM confirmed a hack resulting in the theft of 4,502.9 BTC, valued at approximately 48 billion yen ($305 million). In a May 31 statement, the exchange reported detecting an “unauthorized leak of Bitcoin” from its wallet around 1:26 pm Tokyo time on Friday, May 31, 2024. Blockchain analytical firm Elliptic said the …
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Rising M2 money supply signal potential tailwinds for Bitcoin
Quick Take Analyzing recent data from the Federal Reserve Economic Data (FRED), we observe significant trends in the Federal Reserve’s balance sheet and the M2 money supply. The Federal Reserve’s balance sheet has been gradually declining (quantitative tightening), now standing at $7.3 trillion, down from a peak of $9.0 trillion in April 2022. Despite this …
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Bitdeer gains $150 million from Tether for ASIC-based mining rig development
Stablecoin issuer Tether has entered into an agreement to acquire up to $150 million worth of shares from prominent Bitcoin mining firm Bitdeer via a private placement deal, according to a May 31 statement. Under the agreement, Tether has acquired 18,587,360 Class A ordinary shares from the BTC miner for $100 million. It could purchase …
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How does Ethereum’s DN-404 standard bridge tokens and NFTs?
DN-404 is an experimental Ethereum token standard designed to address the limitations of its predecessor, ERC-404, by enhancing tokenized assets’ efficiency, scalability, and interoperability. DN-404, short for “Divisible NFT-404,” was developed by blockchain engineers and industry experts to improve the ERC-404 standard. ERC-404 aimed to integrate ERC-20 fungible tokens and ERC-721 NFTs to facilitate the …
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Vitalik Buterin critiques Bitcoin’s block size war, calls for innovation
Vitalik Buterin, co-founder of Ethereum, has provided a detailed reflection on the Bitcoin block size wars, a significant conflict within the Bitcoin community that spanned from 2015 to 2017. This debate centered on whether to increase Bitcoin’s block size limit from 1 MB to accommodate more transactions, thereby reducing fees and enhancing its utility as …
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Pudgy Penguins teams up with Mythical Games to launch Web3 mobile game on Polkadot
Pudgy Penguins, a prominent NFT collection, has announced a partnership with Mythical Games to develop a Web3-powered AAA mobile game on the Polkadot-based Mythos Chain, according to a May 30 statement. The game will launch in 2025, featuring the beloved Pudgy Penguins characters and their unique lore and humor. Pudgy Penguins Pudgy Penguins is one …